Indian-imported goods stuck at port to be released under credit line facility
March 18, 2022 05:22 pm
Trade Minister Bandula Gunawardena says he has given instructions to release Indian imported goods, stuck at the port due to non-payment.
The imported items will be released pursuant to the USD 1 billion credit line received from India for the procurement of essential items including food and medicines.
The relevant directives were given to the Secretary of the Ministry of Trade.
On Thursday (March 17), Finance Minister Basil Rajapaksa sealed a USD 1 billion credit line with India to help ease crippling shortages of essential items, including fuel, food and medicine.
The USD 1 billion loan facility, which formed the key component of the four-pillar economic cooperation arrangement agreed between India and Sri Lanka during Minister Rajapaksa’s visit to New Delhi in December last year, was extended to the Government of Sri Lanka to procure food, medicines and other essential items.
